News Roundup (November 2016) - PropertyGuru Singapore

Oversupply in office spaces, falling retail rents and corrections in the residential market are taking a hit on Singapore’s real estate investment prospects. Singapore slips in ranks of real estate investment favourites Singapore fell 10 places for city investment prospects, dropping to 21 from the 11th spot a year ago, a report by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC), revealed. As recently as 2012, Singapore had topped the ranks of real estate investment favourites. “Singapore’s low ranking in this year’s report has been attributed to various factors including overcapacity in office space, falling retail sales and a residential market correction” said Dr Seek Ngee Huat, Chairman of ULI Asia Pacific and Chairman, Global Logistic Properties. Amidst a market slowed by cooling measures and a weaker economic outlook, the Urban Redevelopment Authority...